Minority Broker Program
Program Participation and Policy
SWIB will select a limited number of minority brokers, allowing SWIB’s trading
staff to maintain close communication and a strong professional relationship
with each broker. Minority brokers will only be evaluated on their trading
execution services and after a two-year period, SWIB will reassess a firm’s
contributions to the agency. Minimum trading requirements for minority brokers
include:
- Knowledgeable trading staff with appreciable years of experience
- Financial Information eXchange(FIX) Protocol connection (to receive trades and
return executions electronically
- A set of algorithms to facilitate
- Volume Weighted Average Price trades
- Percent of volume trades
- Clearing bank /functional back office
Firms interested in
doing business with SWIB may contact
minority.brokers@swib.state.wi.us.
To be eligible, a firm must be certified by the
Department of Administration as a minority
owned business enterprise in Wisconsin. Firms should disclose their capital
amount and submit general and financial information about their firm including a
list of existing institutional clients, backing by a reputable securities
clearing firm, and proof of FIX protocol connectivity.
Click here to
begin the application process.